AA, CENX, FCX, FSLR, HOME -- Stock Charts to Watch

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AA, CENX, FCX, FSLR, HOME -- Stock Charts to Watch

Charts of the Day video for Wednesday August 5th, 2020

Alcoa Corporation (AA), which has been a swing trade since it has been in the 6’s during the Mar-Apr period, on Wednesday moved up another 1.01, or 7.4%, to 14.68, with a session high of 14.85, on a solid 8.8 million shares traded. I expect this to move up and test the 16 1/2 range, and then maybe it will head up toward 20.

Century Aluminum Company (CENX), which I put out as a swing the other day, moved forward and followed through nicely. The reason I put a swing on it, was because the ascending bull coil broke out with volume. Look at the run since then. On Wednesday it ran 74 cents, or 7.8%, to 10.32, with a session high of 10.76, on 2.5 million shares traded. The next major target for me is 13-13 1/4.

Freeport-McMoRan Inc. (FCX), which I put a swing, because I think copper is going to make a big move over the next few months. The reason I gave you this one is because technically it had a little break out in a consolidation zone. It took about three weeks to develop. Volume picked up to 37 million shares traded on Wednesday, and it jumped 1.02, or 7.9%, to 13.97, with a session high of 14.43, and another 27 cents in after-hours. I like the look of it. Targets are 15 1/2-16, and then 17-18.

First Solar, Inc. (FSLR) is doing well after it broke out in the low 50’s and we gave you a swing on it. It is 15-points higher and still moving. On Wednesday, it ramped up 1.69, or 2.6%, to 65.73, closing just a penny of the session high at 65.74, on 1.3 million shares traded. I am looking for a test of the double-top at 68 1/2, which is the near-term target. Then I am looking for 75.

At Home Group Inc. (HOME) also has strong momentum. The coil broke around the 5.50 zone, popped, formed a wedge, broke out with a breakaway gap, formed a 2-day mini-wedge, and on Wednesday it popped again, gaining 99 cents, or 7.3%, to 14.66, with a session high of 4.2 million shares traded. It is looking awfully good! I think the gap-fill is next. The target is about 16 3/4.

On the long side, stocks included Alcoa Corporation (AA), Blink Charging Co. (BLNK), Century Aluminum Company (CENX), DarioHealth Corp. (DRIO), Freeport-McMoRan Inc. (FCX), Fulgent Genetics, Inc. (FLGT), First Solar, Inc. (FSLR), Grayscale Bitcoin Trust (BTC) (GBTC), At Home Group Inc. (HOME), Marathon Patent Group, Inc. (MARA), and Riot Blockchain, Inc. (RIOT).